Nigeria: Starting date for export expansion grant claims is 19 October

Nigeria: Starting date for export expansion grant claim

The Nigerian Export Promotion Council (NEPC) issued guidance for exporters on the submission of baseline data and application claims for the export expansion grant scheme, in preparation for the official launch of the website portal.

1000

The baseline data and application claim will cover exports in 2019 and 2020 and must be submitted (both as hardcopy and electronic copy versions) for the period beginning from 19 October 2020 to 20 November 2020.

Exporters must submit the required information and documents to the NEPC.

KPMG observation

Some have observed that the 30-day timeline allotted for the submission of baseline data and related information may not be sufficient time, given the specific nature of information and documents required. For instance, some exporters may not have finalised the statutory audit of their 2019 accounts because of the delay caused by the economic lockdown in response to coronavirus (COVID-19) pandemic. Whether the timeline would be extended is not yet known.


Read an October 2020 report [PDF 175 KB] prepared by the KPMG member firm in Nigeria

© 2022 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal